Fri. Sep 29th, 2023

The German Federal Government is making a total of €150 million available for the allocation of loans to small and medium-sized Ukrainian enterprises. A declaration to this end was signed by Parliamentary State Secretary Dr Franziska Brantner today and will be signed by Ukraine’s Finance Minister Serhiy Marchenko in Kyiv.

Franziska Brantner said: “We are helping Ukraine and the Ukrainian people to cope with the consequences of the war, which is a breach of international law and which we utterly condemn. We are thus sending out a signal for our support to Ukraine when it comes to strengthening and rebuilding its economy. The money will make access to low-interest loans easier for small and medium-sized enterprises in Ukraine.”

The funding will be made available to the Ukrainian Finance Ministry for the “Affordable Loans 5-7-9%” State Programme. It is needed to subsidise the interest rates for loans. The KfW (Kreditanstalt für Wiederaufbau) has been commissioned to implement the loan agreement. The €150 million is the third and final tranche of the Federal Government’s untied loan totalling €500 million, which was launched in 2015.

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